If ever you needed a reason to sit patiently while waiting for a stock to exhibit strength, let Ambarella (AMBA) be your example. As you'll recall, this stock was on our watch list, but our focus was on a break above the $60-$61 area. Not only did the stock fail to break above that area after flirting with it for several weeks, but now it is threatening to break to a $30-handle. Sometimes it really is best to wait for a stock to show some strength before getting involved.
Based on my data, the United States Oil Fund (USO) registered its highest volume day (for a down day in price) on Monday. Possible flush out of hopeful longs?
Action Alerts PLUS charity portfolio holding Twitter (TWTR) is a teenager, and still has a crummy chart. Perhaps the company can turn things around. But if it's technicals you care about, the stock isn't giving you a reason to get involved.
The iShares Russell 2000 ETF (IWM) triggered some decent excess beneath its mid-October 2014 swing low on Monday. While it's impossible to know whether and for how long Monday's low will hold, it does, at least in the near term, provide buyers with a logical area to measure their risk.
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